Leyland Brothers World and Bankruptcy
In November 1990 the Leyland Brothers opened the theme park Leyland Brothers World, on a 40 ha property at North Arm Cove on the Pacific Highway north of Newcastle, New South Wales. It included a 1/40 scale replica of Uluru, as well as amusement rides, playground, roadhouse, museum and a 144 student capacity bush camp. In a 1997 article in the Sunday Age, Mike Leyland said that the initial A$1 million loan blew out due to rain during construction and a 27% interest rate. In July 1992 Chris Palmer of BDO Nelson was appointed receiver and manager of the park when the Leyland Brothers company failed to meet its loan commitment to the Commonwealth Bank. Auctioneers Colliers Jardine estimated the yearly attendance of the park to be about 400,000 people, with 10,000 students for the bush camp. After an auction held by the receiver on 26 November 1992 the theme park was sold for $800,000, and continues to trade successfully as the Great Aussie Bushcamp. The brothers went bankrupt.
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Famous quotes containing the words brothers, world and/or bankruptcy:
“Now, my co-mates and brothers in exile,
Hath not old custom made this life more sweet
Than that of painted pomp?”
—William Shakespeare (1564–1616)
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—Lawrence Kutner (20th century)
“Disappointment is a sort of bankruptcy—the bankruptcy of a soul that expends too much in hope and expectation.”
—Eric Hoffer (1902–1983)